The European Bank for Reconstruction and Development (EBRD) is providing a financing facility of up to US$50 million (€43 million) to Ipak Yuli Bank in Uzbekistan. This support aims to strengthen micro, small, and medium-sized enterprises (MSMEs), enhance access to green finance, and encourage green innovation across the country. The financing package includes two complementary components designed to accelerate Uzbekistan’s green transition while supporting the growth and resilience of its MSME sector.

Under the first component, EBRD will provide a loan of up to US$15 million (€12.9 million) in synthetic Uzbek sum through the Uzbekistan Green Economy Financing Facility II (GEFF II Uzbekistan). This funding will enable Ipak Yuli Bank to expand energy-efficiency lending to companies and households nationwide. The funds can be used to modernize production processes, increase energy efficiency, and improve climate resilience.

This loan will be supported by concessional co-financing from the High-Impact Partnership on Climate Action (HIPCA), which brings together donors from Austria, Canada, Finland, Germany, the Netherlands, Norway, South Korea, Spain, Switzerland, the United Kingdom, the United States, and the Taiwan International Cooperation and Development Fund (TaiwanICDF).

The second component of the package, amounting to US$35 million (€30.1 million) in synthetic local currency, will directly support MSMEs across Uzbekistan. This initiative aims to strengthen the backbone of the country’s economy, boost private entrepreneurship, and create employment opportunities. The EBRD has been an active partner in Uzbekistan for many years, investing more than US$6.5 billion to date through 193 projects. The majority of these investments have supported private-sector development, contributing significantly to the country’s economic growth and diversification.